Glossary - APR

APR

The interest rate charged to the borrower, excluding expenses such as account opening and account keeping fees. The APR is the basic cost of your credit as a percentage of the total loan amount. Please note that even one credit card will have more than one APR - one for purchases, one for cash advances and one that is charged if you make late payments. A rate that includes all fees is known as a comparison rate.

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Last updated: 28 Sep 2017